Arm, Goldman Sachs, KeyCorp rise premarket; Ford, Adobe, Nucor fall

September 15, 2023 7:59 AM EDT -- U.S. futures traded in a mixed fashion Friday, as investors awaited more economic data which could provide clues ahead of next week’s Federal Reserve meeting.

Here are some of the biggest premarket U.S. stock movers today:

  • Arm Holdings (NASDAQ: ARM) stock rose 4.2% with the British chip designer set to continue to gain after its positive debut on Thursday, in demand after a strongly oversubscribed IPO, pushing its valuation above $72 billion.

  • Ford (NYSE: F) and General Motors (NYSE: GM) both dropped around 1% after the United Auto Workers union went on strike at their factories, marking the most ambitious U.S. industrial labor action in decades.

  • Goldman Sachs (NYSE: GS) stock rose 0.4% after the WSJ reported that the investment bank plans to launch a sports franchise unit to offer stakes in sports team to high net worth clients.

  • Adobe (NASDAQ: ADBE) stock fell 2.8% after the computer software maker offered up a tepid sales outlook despite growing AI optimism.

  • AB Inbev (NYSE: BUD) ADRs rose 0.5% after TD Cowen initiated coverage of the Bud Light owner with an ‘outperform’ rating, saying the world's largest brewer has a dominant position in Middle and South America and trends in the U.S. are stabilizing.

  • Nucor (NYSE: NUE) stock fell 2.7% after the largest U.S. steelmaker forecast a drop in earnings in this year’s third quarter, citing lower pricing.

  • KeyCorp (NYSE: KEY) stock rose 1.9% after Piper Sandler upgraded its stance on the regional lender to ‘overweight’ from ‘neutral’.

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